TATA MOTORS
After making a lifetime high of 357, the stock traded within the range of 357 to 284(acting as a strong support for the stock. Finally after 2 months the stock showed a breakout and gave a buying signal around 290 and made a high of 321 today giving a good upward trend.
The upward targets for the stock are as shown with the green markers 324, 330, 334, 340 and a long target would be 350.
If the stock manages to break the 52 week high then we can see more upward movement.
Amidst auto sector showing a decline in sales, the trust of TATA has shown a good move in the market. If the stock shows a downward movement then wait for the support to be taken.
You can always do back testings on Day/Week/5min charts as per your experience and track the stock results to have a stronger view before taking any trade.
This is just my personal study and analysis. Do not trade on the basis of just my study. Do your own research as well.
The upward targets for the stock are as shown with the green markers 324, 330, 334, 340 and a long target would be 350.
If the stock manages to break the 52 week high then we can see more upward movement.
Amidst auto sector showing a decline in sales, the trust of TATA has shown a good move in the market. If the stock shows a downward movement then wait for the support to be taken.
You can always do back testings on Day/Week/5min charts as per your experience and track the stock results to have a stronger view before taking any trade.
This is just my personal study and analysis. Do not trade on the basis of just my study. Do your own research as well.
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